Site: nolo.com
... have named as an alternate beneficiary, or it will go to the one you have named to take your residuary estate ... protects the beneficiaries in the unlikely event that the executor wrongfully spends or distributes estate ... Because the premium or fee that must be paid for a bond comes out of the estate—leaving less money ... for the beneficiaries—most wills for small or moderate estates do not require one. ... if you think that there is a good chance that someone will challenge your will, see an experienced estate ...